|  |  |  |
| --- | --- | --- |
|   | (b) | True Lease: The parties:  |

  




|  |  |  |
| --- | --- | --- |
|   | (i) | intend that the Lease constitute a “true lease”, and not a “security interest” as defined in Section 1-201(37) of the UCC;  |

  




|  |  |  |
| --- | --- | --- |
|   | (ii) | intend that the Lease constitute a “true lease” for United States Federal income tax purposes; and  |

  




|  |  |  |
| --- | --- | --- |
|   | (iii) | agree that the Lease confers only a leasehold interest on Lessee in and to the Aircraft on and subject to the terms of the Lease, and no ownership or other interest with respect to
the Aircraft is provided to Lessee under the Lease.  |

  


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